Tanzania is stepping up efforts to protect its economy and cushion citizens against global economic shocks through stronger financial management, targeted support for vulnerable households and sustained investment in essential social services.
Minister for Finance Ambassador Khamis Mussa Omar (MP) said closer coordination between monetary and fiscal policies was critical to maintaining economic stability, protecting livelihoods and strengthening the country's ability to withstand external economic pressures.
He made the remarks during a meeting of the International Monetary Fund (IMF) Constituency Group One, held on the sidelines of the IMF and World Bank Annual Meetings in Bangkok, Thailand.
Ambassador Omar said Tanzania had undertaken legal reforms allowing the Government to increase the capital of the Bank of Tanzania, a measure aimed at strengthening the central bank's institutional capacity and improving the country's preparedness for economic disruptions.
He outlined three key priorities underpinning Tanzania's efforts to build a more resilient economy and protect the welfare of its citizens.
The first is strengthening economic coordination and preparedness. The Government is aligning cash-flow management and borrowing plans with the Bank of Tanzania's liquidity assessments to improve budget execution and monetary policy implementation.
Effective coordination is expected to support more disciplined financial management and help the country respond more effectively to changing economic conditions.
The second priority is protecting vulnerable households during economic crises. Ambassador Omar stressed that assistance provided during periods of economic disruption should be targeted at those who need it most, temporary and supported by reliable financing.
He highlighted the importance of such measures amid fluctuations in global oil prices, which can put pressure on transport costs, household spending and the cost of doing business.
The approach seeks to ensure that limited public resources reach the most vulnerable citizens while maintaining responsible management of government finances.
The third priority is protecting investments that drive growth and improve people's lives. Tanzania is prioritising human capital development and essential social services while implementing a medium-term revenue strategy designed to expand domestic revenue collection and reduce reliance on external borrowing.
Investments in people and essential services remain important to creating opportunities, supporting livelihoods and laying the foundation for sustainable economic growth.
Ambassador Omar also called on the IMF and other international financial institutions to strengthen technical assistance and expand opportunities for member countries to share experiences and learn from one another.
He said such support would help countries improve fiscal forecasting, debt management and policy analysis, strengthening their ability to anticipate economic risks and respond effectively to emerging challenges.
Tanzania's strategy reflects the importance of building an economy that can withstand international uncertainty without losing sight of citizens' needs. By strengthening financial institutions, improving public resource management and protecting essential investments, the country aims to safeguard economic stability while sustaining development gains.
As global economic pressures continue to affect countries in different ways, Tanzania is emphasising preparedness, responsible financing and targeted social protection as key pillars of an economy that serves its people and supports long-term prosperity.